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Home Prices Post Gains in February

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save April 1, 2014 685 Views Demand Propels Home Prices Upward 2 days ago Home Prices Post Gains in February Home / Daily Dose / Home Prices Post Gains in February CoreLogic Foreclosures Home Price Index Home Prices Market Projections 2014-04-01 Colin Robins About Author: Colin Robins The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago CoreLogic released its Home Price Index (HPI) for February, which found that home prices increased by 12.2 percent from the previous year. The CoreLogic figure includes home prices of distressed sales, and represents 24 months of consecutive year-over-year increases in home prices nationally.Home prices month-over-month also increased, posting a .8 percent gain compared to January, 2014. The monthly figure includes distressed sales.14 states showed double-digit year-over-year growth in February. Colorado, Nebraska, North Dakota, Texas, and the District of Columbia all reached new home price highs, with 22 states at or within 10 percent of their price peaks.”As the spring home-buying season kicks off, house price appreciation continues to be strong,” said Dr. Mark Fleming, chief economist for CoreLogic. “Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply.”Without distressed sales, which consist of REO properties and short sales, the HPI revealed slightly lower gains.Home prices excluding distressed sales increased 10.7 percent in February from the previous year, and .9 percent from the previous month. All 50 states and the District of Columbia showed year-over-year appreciation when excluding distressed sales, according to CoreLogic.”February marks two straight years of year-over-year gains in national prices across the United States,” said Anand Nallathambi, president and CEO of CoreLogic. “The consistent upward movement in home prices should ultimately prove to be an important stimulant for higher levels of sustained market activity and growth in the housing economy.”CoreLogic also announced a new forecast feature to its report, offering projections for upcoming months. The company projected prices to increase .5 percent in March.Additionally, the home prices with distressed sales are estimated to increase 10.5 percent year-over-year from March, 2013 to March, 2014.CoreLogic projects home prices excluding distressed sales will increase 9.3 percent in March year-over-year, and .4 percent month-over-month.Including distressed sales, the five states with the highest home price appreciation were California (+19.8 percent), Nevada (+18.5 percent), Georgia (+14.2 percent), Oregon (+13.8 percent) and Michigan (+13.5 percent).Excluding distressed sales, the five states with the highest home price appreciation were California (+15.9 percent), Nevada (+14.6 percent), Florida (+13.1 percent), Washington (+11.5 percent) and Hawaii (+11.5 percent). Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Tagged with: CoreLogic Foreclosures Home Price Index Home Prices Market Projections Subscribecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Massachusetts Foreclosure Activity Decreases in February Next: Consumer Complaints to CFPB Nearly Double in 2013  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img

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